Overview

Since joining Mayer Brown in 1989, Scott Stewart’s practice has focused exclusively on tax disputes, including transfer pricing issues arising under I.R.C. §482 and intercompany debt matters arising under I.R.C. §385. He represents taxpayers at all levels of federal tax controversy, including audits, administrative appeals before the Internal Revenue Service, mediation involving the Appeals division of the IRS, and litigation before the United States Tax Court.

Recognized by Chambers USA each year from 2006 through 2019, Scott is described as "a talented litigator and corporate advisor" who wins the confidence of clients with his "extraordinary communication skills," "professional demeanor" and "broad and deep experience." He is "recommended for his spot-on judgment and analysis," "his responsiveness and strategic thinking" and his "ability to anticipate issues before they arise." Chambers describes him as "an extremely capable can-do tax lawyer" who is "easy to work with" and "very knowledgeable on the subject matter, attentive to client needs and quick to learn the client's issues and business." Chambers notes that he is "particularly adept at handling transfer pricing cases at all levels" and "frequently leads on market-defining transfer pricing disputes, often with multi-billion dollar outcomes."

Scott has extensive experience with deductibility of interest expense in related-party transactions, including debt-versus-equity characterization and "sham transaction" and "economic substance" issues, dating back to his involvement in the landmark Nestlé Holdings case during the 1990s. More recently, Scott led the Mayer Brown team that filed 15 Tax Court petitions concerning debt-equity issues on behalf of Tyco International and related companies. The cases, which involved $3 billion in interest expense incurred from 1998 through 2000 and implicated an additional $6.5 billion in interest expense incurred from 2001 through 2007, were settled for 5% of the amount in dispute.

Scott is also experienced in all aspects of international transfer pricing, including cross-border movements of tangible and intangible property, advance pricing agreements, cost sharing arrangements, Section 6662 documentation, Section 936 Puerto Rico possessions corporations and issues related to the OECD's Base Erosion and Profit Shifting (BEPS) initiative. His transfer pricing litigation experience includes a number of major cases of the last three decades, such as National Semiconductor, Seagate Technology, Nestlé Holdings and United Parcel Service.

Scott's experience also includes acquisition-related issues, such as valuation of tangible and intangible assets. He advises clients on tax treaty matters, competent authority issues, attorney-client and related privilege issues, tax penalties, and accounting for tax matters under FIN 48 of the Financial Accounting Standards Board. His industry experience includes manufacturing, pharmaceutical, medical device and food processing companies. Scott holds a JD from Harvard Law School and an MBA from the Johnson Graduate School of Management at Cornell University.

Admissions

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